Few accounting problems stay quiet for as long as an unfiled balance sheet. A company keeps trading, invoices keep going out, salaries keep being paid, and somewhere behind all of that a reporting year was never properly closed. By the time an administrator notices, the gap is rarely a single missing document. It is usually a chain: one incomplete month, then a bookkeeper who left without a handover, then a financial year that nobody signed off on.
REALCONT®, a Bucharest accounting firm operating under the legal entity REALCONT BH SRL and active since April 2004, treats that situation as a separate type of engagement rather than as ordinary monthly bookkeeping. On the page dedicated to financial statements, the company lists the reconstruction of accounting records and the filing of overdue balance sheets among its services, alongside annual financial statements, semi-annual reporting as at 30 June, explanatory notes and the verification of correlations before a filing is submitted. Both the diagnosis and the correction, in other words, are treated as work in their own right.
How the gap opens in the first place
The causes tend to repeat. An accountant retires, changes jobs or simply stops answering, and the files stay behind on a hard drive nobody can access. A business grows faster than its paperwork and the owner postpones the reconciliation for a quieter month that never arrives. A company suspends its activity, assumes that no activity means no obligations, and discovers otherwise. In each case the accounting record stops being a continuous story and becomes a set of fragments.
Distance adds its own version of the problem. Romania has a steady flow of companies registered by founders who live elsewhere, and a shareholder in another country does not always see that a filing has been missed until a notice arrives. REALCONT® addresses that audience through a dedicated English-language section of its website, including a page on setting up a Romanian company as a non-resident, and offers monthly reporting in English for foreign-owned entities and local subsidiaries of international groups. For those clients, a reconstruction project often starts with a simple question: what exactly was filed, and by whom.
The diagnosis that comes before the correction
Rebuilding a set of records without first knowing their condition is guesswork, which is why the firm’s approach begins with an assessment. REALCONT® offers accounting audit missions carried out by expert accountants who are members of CECCAR, the Romanian body of chartered and certified accountants. According to the description published on the site, these missions cover the audit of the bookkeeping records themselves, the review of financial statements, a preventive tax audit, verification of records taken over from a previous accountant, and pre-acquisition due diligence. The output is a written report with quantified risks and a remediation plan, and the firm indicates a usual duration of two to four weeks for a small or medium-sized company.
One detail in that offer is worth noting. The company states that the accounting audit is contracted separately from ongoing bookkeeping, for reasons of professional independence. A firm reviewing its own work is not, in any meaningful sense, reviewing anything. Keeping the two engagements apart is a structural choice rather than a commercial one.
Reconstruction, month by month
Once the assessment is done, the rebuilding work follows the ordinary architecture of Romanian accounting, applied retroactively. Documents are recorded, monthly trial balances are produced, and the fiscal declarations that were skipped are prepared. The declarations REALCONT® names explicitly on its site are D100, D300, D394, D112 and the Unique Statement, the last of these relevant for sole traders and liberal professions kept under single-entry bookkeeping.
The transition from a previous accountant is handled as part of the same process. The firm says it manages the takeover in full, including direct communication with the former accountant, so that the client is not left mediating a conversation about files they never saw. That matters more than it sounds: in a backlog case, the missing pieces are often not the invoices but the working papers, the opening balances and the reasoning behind an earlier tax treatment.
Internal control is presented as part of the method. The firm describes double-verification procedures applied before every filing and a centrally tracked tax calendar, on the principle that the deadlines belong to the accountant rather than to the client. It also states that a request receives an answer within the same working day, and it assigns each client a dedicated consultant instead of routing questions through a department. In a reconstruction project that arrangement carries practical weight, because such work generates a steady stream of small queries about documents nobody can immediately locate.
The electronic layer that cannot be skipped
Any company reconstructing its records today has to do so inside a reporting environment that has changed substantially. Romanian businesses now operate with RO e-Factura for electronic invoicing, with e-TVA and its pre-filled VAT return, and with SAF-T reporting through the D406 declaration. The firm lists compliance with all three among the things it handles for clients, and enrolment in the tax authority’s virtual private space, together with the activation of e-Factura, appears in its start-up package.
For a company with unfiled years behind it, this creates a second front. Historical records have to be brought up to date while current obligations continue to run in parallel, in systems that leave a permanent digital trail. A reconstruction project is therefore rarely just archaeology; it is archaeology conducted while the site is still in use.
When the authorities are already asking questions
Some backlogs are discovered by the company. Others are discovered by ANAF. For the second scenario, REALCONT® offers a distinct service that covers an internal audit of the period under review before the inspection begins, representation and communication with the inspectors, written responses to compliance notices and summonses, written tax positions, appeals against administrative-tax acts and post-inspection regularisation. Where a matter crosses into litigation or into company registry filings, the legal documentation is drafted and assumed by a collaborating law office whose practitioner is admitted to the Bucharest Bar under Law no. 51/1995, with REALCONT® limiting its own role to administrative coordination.
Cost, timing and the people behind the work
The firm publishes its starting fees openly. Bookkeeping for a sole trader or individual enterprise starts at 70 euro per month, a company without a VAT number at 145 euro, and a VAT-registered company at 170 euro. The annual balance sheet starts at 250 euro and is included in the start-up package, while the Unique Statement and annual reporting for sole traders start at 120 euro. Prices are quoted in euro excluding VAT and invoiced in lei at the exchange rate agreed in the contract. An anniversary offer displayed on the pricing page provides a 22 percent reduction on the monthly fee for twelve months, for new contracts signed between 6 March and 5 September 2026, not combinable with other discounts.
The management structure is set out publicly as well. Florin Mihalcea, Chief Executive Officer and administrator, coordinates the firm’s strategy, tax consulting for key clients and the relationship with the tax authority. Luiza Mantu, Chief Financial Officer, is responsible for the organisation of bookkeeping and reporting, the internal double-check procedures, audit missions, financial analysis and the tax calendar. The company was founded by Reasilvia Mihalcea, an economist who served as general manager for close to two decades and died in 2023. REALCONT® also states that its activity is covered by professional indemnity insurance, and that a dedicated consultant is reachable by phone, e-mail or WhatsApp rather than through a ticketing system.
The office is in Sector 1 of Bucharest, on Calea Floreasca, with working hours from Monday to Friday, 09:00 to 17:00 Romanian time, and the firm works fully online with clients across the country. Foreign-owned companies looking to establish where their records actually stand can reach the firm’s English-speaking accountants through the channels listed there.
An accounting backlog behaves like most deferred maintenance. It does not repair itself, it becomes more expensive to fix the longer it waits, and it is often smaller than the owner fears once someone has counted it properly. The counting is the part that has to happen first.
